After his personal wealth overtook that of Wang Jianlin, Justin Sun responded: "I feel no elation, only vigilance. It is always right to believe in young people."

According to Saudi media outlet Alhadath, senior sources have stated that Iran and Oman have reached a preliminary consensus on reopening the Strait of Hormuz. The deal could be announced in the coming days, though it still requires approval from Iran's Supreme National Security Council. The 60-day agreement is designed to restore navigation in the strategic waterway.

According to Hong Kong 01, the Hong Kong Police Force has updated details of the "Fun Coffee" virtual currency fraud case, disclosing that as of August 5, a total of 255 related reports have been received, an increase of 30 from earlier, with total case losses rising to approximately HK$104 million. Separately, the Macau Judiciary Police arrested two women in connection with 9 cases involving around MOP 3.6 million. Regarding a TVB artist who once hosted events linked to the Fun Coffee fraud, the Hong Kong Police said that during the investigation, they will contact victims and relevant parties to identify the fraud mastermind and the roles of all involved. BlockBeats Note: "Fun Coffee" claims to be a large-scale coffee investment enterprise based in Vietnam’s Phu Quoc Island, with capital exceeding US$1 billion. It entered Hong Kong at the end of 2025, building its image by hosting marathons, dinners, social events, distributing leaflets (even under the "anti-fraud" banner), and inviting artists to endorse it, while registering a company, opening an office and physical stores in Hong Kong. In reality, it lured the public to download an app to "complete tasks" and recharge with cryptocurrencies like Tether (USDT) under the guise of investing in "high-tech coffee equipment, gene optimization technology, and agricultural gear". The platform promised annualized returns as high as 197%–278% (with some claims reaching 222% or more), stating that larger investments and longer deposit periods would yield higher returns, and set up an upline-downline commission system to encourage referrals. In July 2026, the Hong Kong Securities and Futures Commission (SFC) classified it as a suspicious investment product. Later that month, the app suddenly shut down, withdrawals were blocked, customer service went missing, and its office and stores were vacated – marking the collapse of the fraud.

CryptoQuant analyst Axel Adler Jr. stated in a post that while Bitcoin has rebounded to $64,600, two on-chain flow metrics have not confirmed an influx of new demand. The Demand/Issuance Ratio is -5.43, and the coin-age net flow stands at -85,500 BTC. Both metrics have recovered from their July lows but remain negative. A Demand/Issuance Ratio below zero means the volume of young coins is shrinking faster than new issuance, a trend that has lasted around five months. A negative coin-age net flow signals that 85,500 BTC have been moved into the long-term holding category (held for over one year) over the past 30 days, pointing to a continued contraction in liquidity supply. The analyst added that the current rebound is primarily supported by liquidity supply contraction (coin aging, long-term holders’ reluctance to sell) and accumulation behavior, rather than new demand. A return of both metrics to above zero is an improvement signal, and a sustained Demand/Issuance Ratio above 1 is needed to confirm a genuine recovery.

According to on-chain detective Specter’s monitoring, the Triple-A attacker converted DAI into 2,620 ETH before depositing funds to Tornado Cash. The attacker has now deposited $4.99 million into Tornado Cash, with 26 transactions to the 100 ETH pool and 2 transactions to the 10 ETH pool. The attacker still holds approximately $6.7 million worth of DAI.

According to market data from BIT (bit.com), U.S. storage sector stocks fell collectively in pre-market trading. SanDisk dropped over 8% due to poor performance guidance, Western Digital fell 12%, and SK Hynix declined 6%. Additionally, the recently sharply rebounding CPO sector saw a slight pre-market dip: AAOI was down 2.79% and LITE fell 0.52%.

Hong Kong stocks closed lower, with the Hang Seng Index down 1.49% and the Hang Seng Tech Index down 2.28%. MINIMAX-W rose approximately 17%, while Baidu and Semiconductor Manufacturing International Corporation (SMIC) fell around 4%.